Daijiworld Media Network - Mumbai

Mumbai, Jun 25: Zee Entertainment Enterprises Limited (ZEEL) has said its board of directors will meet on July 1 to further discuss and evaluate the mode of raising funds for the company.

In a stock exchange filing on Thursday, the company said the board will consider various options for the proposed fund-raising exercise, including the issuance of equity shares and other securities convertible into equity shares.

The company said the meeting will also discuss and approve the specific terms and conditions of the fund-raising plan through permissible routes such as private placement, preferential issue or any other suitable method.

Earlier this month, Zee Entertainment had informed the stock exchanges that its board had approved raising a minimum of Rs 2,300 crore in one or more tranches to support strategic and business initiatives.

The company said the proposed fund-raising exercise will be subject to receiving necessary regulatory and other approvals.